BMI View: The Vietnamese medical device market will register high growth over the 2016-2021 period.

The market will remain one of the strongest performers in the Asia Pacific region, with Vietnam growing as a manufacturing location for medical device companies and exports posting consistent growth.

Latest Updates and Key Forecasts

We maintain our forecasts for the market to expand by a 2016-2021 CAGR of 10.8% in local currency terms, which will take expenditure to VND36.7trn in 2021. Market growth in US dollar terms will be slightly lower at a 2016-2021 CAGR of 9.4%, which will see it increase to USD1.5bn in 2021.